By Robert J. Hughes, William M. Pride, Jack R. Kapoor
Table of Contents
Part I: the surroundings OF BUSINESS.
1. Exploring the realm of industrial and Economics.
2. Being moral and Socially Responsible.
three. Exploring worldwide company.
Part II: traits IN company at the present time.
4. selecting a kind of industrial possession.
5. Small company, Entrepreneurship, and Franchises.
Part III: administration AND ORGANIZATION.
6. realizing the administration technique.
7. making a versatile association.
8. generating caliber items and companies.
Part IV: HUMAN assets.
9. Attracting and conserving the simplest staff.
10. Motivating and fulfilling staff and Teams.
eleven. bettering Union-Management kinfolk.
Part V: advertising.
12. construction patron Relationships via powerful advertising and marketing.
13. developing and Pricing items that fulfill buyers.
14. Wholesaling, Retailing, and actual Distribution.
15. constructing built-in advertising and marketing Communications.
Part VI: info FOR company approach AND selection MAKING.
16. realizing details and e-Business.
17. utilizing Accounting details.
Part VII: FINANCE AND funding. 18. realizing funds, Banking, and credits.
19. learning monetary administration.
20. realizing own funds and Investments.
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Extra resources for Business (12th Edition)
Imagine what would happen if the medical professionals in a hospital operating room weren’t organized—especially if you were the patient. Like a surgical operating room, a business must be organized in order to meet the needs of its customers and earn a profit. 10 Satisfying Needs The ultimate objective of every firm must be to satisfy the needs of its customers. People generally do not buy goods and services simply to own them; they buy goods and services to satisfy Part 1 The Environment of Business Copyright 2012 Cengage Learning.
They can do so directly by buying stocks issued by businesses, by purchasing shares in mutual funds that purchase stocks in businesses, or by lending money to businesses. They can also invest indirectly by placing their savings in bank accounts. Banks and other financial institutions then invest these savings as part of their normal business operations. 5 is complete. How, then, does government fit in? consumer products goods and services purchased by individuals for personal consumption command economy an economic system in which the government decides what goods and services will be produced, how they will be produced, for whom available goods and services will be produced, and who owns and controls the major factors of production 16 Governments The Preamble to the Constitution sets forth the responsibility of the government to protect and promote public welfare.
A negative profit, which results when a firm’s expenses are greater than its sales revenue, is called a loss. A business cannot continue to operate at a loss for an indefinite period of time. Management and employees must find some way to increase sales revenues and reduce expenses to return to profitability. 3 The Relationship Between Sales Revenue and Profit Sales revenue Expenses Profit © Cengage Learning 2014 Profit is what remains after all business expenses have been deducted from sales revenue.
Business (12th Edition) by Robert J. Hughes, William M. Pride, Jack R. Kapoor